Investment Overview

The investment strategy has been developed in the context of long-term capital market expectations, as well as multi-year projections of actuarial liabilities. Accordingly, the investment objectives and strategies emphasise a long-term outlook and interim performance fluctuations will be viewed with the corresponding perspective.

With the input from the EPPF’s actuary, the Board of Trustees of the EPPF have determined and established the primary investment objective for the EPPF.

The primary objective is to earn a net real Rand investment return of at least 4.5 percent per annum over a rolling three-year period. In other words, the EPPF aims to earn an annual return of at least 4.5 percent after inflation (as measured by the South African Consumer Price Index), applicable taxes, and investment fees and costs.

A long-term investment time horizon is applied.